SYRACUSE, N.Y. — Independent broker-dealer Cadaret, Grant and Company has been sold to Atria Wealth Solutions of New York City.
Cadaret, Grant is headquartered in Syracuse and was founded in 1985. It services about 900 financial advisors, according to a release from Atria. Cadaret, Grant will remain headquartered in the Salt City.
Formed in 2017, Atria is a holding company focused on financial-services firms. The company is headed by former Morgan Stanley executive Doug Ketterer.
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Atria will acquire 100 percent of Cadaret, Grant as well as the company’s sister operations, Cadaret, Grant Agency Inc., and Capital Strategy Group Ltd. No financial terms of the deal were disclosed.
“Our shared vision will provide advisors with future growth opportunities while simultaneously protecting the high standards we have adhered to over the past 30 years,” Arthur Grant, CEO of Cadaret, Grant, said in the release. As part of the sale agreement, Grant will remain with the company as an advisor to Ketterer
“Cadaret, Grant has been a long-standing leader among independent broker-dealers and bringing it into the Atria family is an incredible opportunity,” Ketterer said. “Having worked closely with Art and his team, it is clear that our cultures, philosophies, and approaches to servicing financial advisors and their clients are fully aligned.”
The transaction is subject to approval by the not-for-profit Financial Industry Regulatory Authority.
Cadaret, Grant had 116 employees in Central New York in 2014, according to Business Journal News Network research.
Contact McChesney at cmcchesney@cnybj.com
